RT Journal Article
T1 Detection of implicit fluctuation bands and their credibility in EU candidate countries
A1 Sosvilla Rivero, Simón Javier
A1 Ramos Herrera, María del Carmen
AB This paper attempts to identify implicit exchange-rate regimes for currencies of candidate countries vis-à-vis the euro. To that end, we apply three sequential procedures that consider the dynamics of exchange rates to data covering the period from 1999:01 to 2012:12. Our results would suggest that implicit bands have existed in many sub-periods for almost all currencies under study. Once we detect de facto discrepancies between de facto and de iure exchange-rate regimes, we make use of different methods to study the credibility of the detected fluctuation bands. The detected lack of credibility in a high percentage of the sample is robust to the use of several credibility tests, suggesting that economic agents do not behave as if these bands actually were in force at time of making their financial plans. These countries do not improve the confidence on the fluctuation bands as time evolves.
PB Taylor & Francis
SN 1406-099X
YR 2015
FD 2015-07-28
LK https://hdl.handle.net/20.500.14352/23482
UL https://hdl.handle.net/20.500.14352/23482
LA eng
NO Sosvilla-Rivero, Simón, y María Del Carmen Ramos-Herrera. «Detection of Implicit Fluctuation Bands and Their Credibility in EU Candidate Countries». Baltic Journal of Economics, vol. 15, n.o 1, enero de 2015, pp. 18-37. DOI.org (Crossref), https://doi.org/10.1080/1406099X.2015.1066952.
NO Ministerio de Economía, Comercio y Empresa (España)
NO Ministerio de Ciencia, Innovación y Universidades (España)
DS Docta Complutense
RD 18 abr 2025